BHP, Brickworks, David Jones, Henderson, Metcash: Australian, N.Z. Stocks
The following were among the most active shares in the market today. Stock symbols are in parentheses after company names.
Mining shares: Copper futures for December delivery gained 2.4 percent to settle at $3.565 a pound yesterday in New York.
BHP Billiton Ltd. (BHP AU), the world’s largest mining company, rose 0.8 percent to A$39.22.
Potash Corp. of Saskatchewan Inc. sued BHP in Chicago federal court to prevent it from acquiring the fertilizer maker with a $40 billion hostile offer.
Rio Tinto Group (RIO AU), the world’s third-biggest miner, increased 1.5 percent to A$76.04.
Axa Asia Pacific Holdings Ltd. (AXA AU), a wealth manager with A$78.4 billion ($75 billion) of assets, slipped 1.9 percent to A$5.19. AMP Ltd. (AMP AU), Australia’s second-biggest asset manager, will take at least one month to decide whether to make a fresh bid for Axa Asia Pacific, Reuters reported, citing two unidentified people it said were familiar with the matter. AMP fell 0.2 percent to A$5.12.
Brickworks Ltd. (BKW AU), a maker of bricks and floor tiles, declined 2.1 percent A$11.90. The company said full-year profit tumbled 55 percent to A$138.8 million from a year earlier.
Carnarvon Petroleum Ltd. (CVN AU) surged 7.5 percent to 43 Australian cents. The oil and gas exploration company completed testing of a well in Thailand, according to a statement to the Australian stock exchange.
CuDeco Ltd. (CDU AU), seeking to build the Rocklands project in Australia, jumped 5.3 percent to A$2.19. The company said it raised A$20 million selling shares to an institutional investor to fund the copper-cobalt project.
David Jones Ltd. (DJS AU), Australia’s second-biggest department store operator, fell 2 percent to A$5. Macquarie Group Ltd. cut its rating to “underperform” from “neutral.”
Henderson Group Plc (HGG AU), the U.K. money manager that owns New Star Asset Management Group Plc, slumped 5.6 percent to A$2.02. Citigroup Inc. reduced its recommendation to “hold” from “buy.”
Metcash Ltd. (MTS AU), Australia’s biggest grocery wholesaler, dropped 2.5 percent to A$4.31. The company had its stock rating downgraded to “underweight” from “neutral” at JPMorgan Chase & Co.
Toll Holdings Ltd. (TOL AU), Australia’s largest trucker, lost 1.4 percent to A$6.57. Macquarie Group Ltd. lowered its rating to “neutral” from “outperform.”
Virgin Blue Holdings Ltd. (VBA AU), Australia’s second- largest airline, climbed 1.1 percent to 44.5 Australian cents. The company gained interim approval from the nation’s antitrust regulator for an alliance with Etihad Airways PJSC on flights to Abu Dhabi. The alliance, which is being opposed by bigger rival Qantas Airways Ltd., still needs a final ruling from the Australian Competition and Consumer Commission.
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